Mid-day Movers (TUDO, PCBC, TZYM, ANTH, CDTI)
Shortly before noon ET today, the three major US stock indexes are mixed, with the DJIA up about 7.5 points at around12,930, the Nasdaq down about 13 points at 2,976, and the S&P 500 down more than 3 points to…
Among the major movers at around noon today are Tudou Holdings Ltd. (NASDAQ: TUDO), Pacific Capital Bancorp (NASDAQ: PCBC), Tranzyme Inc. (NASDAQ: TZYM), Anthera Pharmaceuticals Inc. (NASDAQ: ANTH), Clean Diesel Technologies Inc. (NASDAQ: CDTI).
Tudou is up nearly 147% at $38.00 after posting a new 52-week high of $42.81. Volume is already nearly 60x the daily average of about 67,000 shares traded. The Chinese online video company is merging with competitor Youku Inc. (NYSE: YOKU). More coverage here.
Pacific Capital is up 57% at $45.01 after posting a new 52-week high of $45.45 earlier this morning. Volume is already about 50x the daily average of about 20,000 shares traded. The bank holding company is being acquired by Union Bank for $1.5 billion ($46/share).
Tranzyme is down more -48% at $2.63 after posting a new 52-week low of $1.68 earlier. Volume is already 250x the daily average of around 30,000 shares traded. The company’s bowel drug failed a phase III drug trial.
Anthera is down more than -47% at $3.38 after posting a new 52-week low of $3.08 earlier this morning. Volume is already about 35x the daily average of around 127,000 shares traded. The drug company has unexpectedly cancelled a heart drug trial because the drug does not work.
Clean Diesel Technologies is up more than 54% at $4.80. Volume is already closer to 30x the daily average of around 137,000 shares traded. The biofuel maker reported a net profit for the fourth quarter, where a net loss was expected.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.